Overview

A class action lawsuit has been filed against Sun Communities, Inc. (“Sun Communities” or the “Company”) (NYSE: SUI) and certain of the Company’s former senior executive officers alleging violations of the federal securities laws.  The SUI class action lawsuit is brought on behalf of all persons and entities who purchased or otherwise acquired SUI securities between February 28, 2019, and September 24, 2024, both dates inclusive (the “Class Period”).  Investors have until February 10, 2025, to seek appointment as lead plaintiff in the SUI class action lawsuit.

SUI is a real estate investment company that focuses its investments on manufactured housing communities, recreational vehicle communities, and marinas.  SUI was established in 1975 and became a publicly owned corporation in December 1993.

The SUI class action lawsuit alleges that Defendants, throughout the Class Period, provided investors with material information concerning SUI’s accounting practices and internal control over financial reporting.  Defendants’ statements included, among other things, confidence in SUI’s brand, calling the Company “industry leading” and repeatedly touting strong performance years.  Moreover, Defendants consistently publicly reported financial results, outlooks, and guidance to investors, all while engaging in insider trading and concealing undisclosed loans and a $4 million mortgage.  This scheme compromised the independence of SUI’s Board, the Compensation Committee, and the Audit Committee, while calling into question the integrity of the Company’s governance, controls, and financial disclosures.

Furthermore, Defendants provided these overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning where money was coming from, namely, undisclosed loans and a $4 million mortgage.  Importantly, Defendants concealed key information regarding Board members’ insider trading, loans taken on behalf of SUI by Chief Executive Officer (“CEO”) Shiffman, and the mortgage signed by CEO Shiffman on behalf of an entity called DH Bingham Farms LLC.  Such statements absent these material facts caused Plaintiff and other shareholders to purchase SUI’s securities at artificially inflated prices.

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If you purchased or otherwise acquired SUI securities between February 28, 2019, and September 24, 2024, both dates inclusive, and you wish to serve as lead plaintiff in this lawsuit, we encourage you to submit your information to DiCello Levitt LLP via the form on this page. 

You can also contact DiCello Levitt partner Brian O’Mara by calling (888) 287-9005 or at [email protected]. 

The deadline to apply to the Court to serve as lead plaintiff in the SUI class action lawsuit is February 10, 2025.